Blume Capital Management Inc. Cuts Stock Holdings in Baker Hughes (NASDAQ:BKR)

Blume Capital Management Inc. decreased its position in shares of Baker Hughes (NASDAQ:BKR) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,375 shares of the company’s stock after selling 1,880 shares during the quarter. Baker Hughes accounts for 1.5% of Blume Capital Management Inc.’s portfolio, making the stock its 26th largest position. Blume Capital Management Inc.’s holdings in Baker Hughes were worth $6,907,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. JFS Wealth Advisors LLC boosted its holdings in Baker Hughes by 135.9% in the fourth quarter. JFS Wealth Advisors LLC now owns 670 shares of the company’s stock worth $27,000 after purchasing an additional 386 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Baker Hughes in the fourth quarter worth approximately $30,000. Larson Financial Group LLC boosted its holdings in Baker Hughes by 41.2% in the fourth quarter. Larson Financial Group LLC now owns 740 shares of the company’s stock worth $30,000 after purchasing an additional 216 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in Baker Hughes in the third quarter worth approximately $30,000. Finally, True Wealth Design LLC boosted its holdings in Baker Hughes by 2,181.6% in the third quarter. True Wealth Design LLC now owns 867 shares of the company’s stock worth $31,000 after purchasing an additional 829 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 1.7 %

NASDAQ:BKR opened at $41.74 on Friday. Baker Hughes has a one year low of $30.93 and a one year high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The firm has a market cap of $41.33 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.00 and a beta of 1.30. The firm has a 50-day simple moving average of $44.87 and a 200-day simple moving average of $40.96.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Thursday, January 30th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. Equities analysts anticipate that Baker Hughes will post 2.59 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend was Tuesday, February 11th. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s payout ratio is 30.87%.

Analysts Set New Price Targets

BKR has been the topic of several research reports. Evercore ISI raised their target price on shares of Baker Hughes from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, January 15th. Susquehanna raised their target price on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a “positive” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their price target on shares of Baker Hughes from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Baker Hughes from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.06.

Insider Buying and Selling

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares in the company, valued at $7,758,730.54. The trade was a 4.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.